Assenagon Asset Management S.A. Raises Stock Position in Tyler Technologies, Inc. (NYSE:TYL)

Assenagon Asset Management S.A. lifted its position in Tyler Technologies, Inc. (NYSE:TYL) by 222.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 36,903 shares of the technology company’s stock after purchasing an additional 25,459 shares during the period. Assenagon Asset Management S.A. owned 0.09% of Tyler Technologies worth $21,541,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in TYL. Independence Bank of Kentucky purchased a new stake in Tyler Technologies in the second quarter worth about $25,000. Covestor Ltd lifted its position in shares of Tyler Technologies by 153.6% in the 1st quarter. Covestor Ltd now owns 71 shares of the technology company’s stock worth $30,000 after purchasing an additional 43 shares during the period. Blue Trust Inc. boosted its stake in shares of Tyler Technologies by 329.4% during the second quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock valued at $37,000 after purchasing an additional 56 shares in the last quarter. Lynx Investment Advisory bought a new position in Tyler Technologies in the second quarter worth approximately $38,000. Finally, Larson Financial Group LLC lifted its holdings in Tyler Technologies by 675.0% during the first quarter. Larson Financial Group LLC now owns 93 shares of the technology company’s stock worth $40,000 after buying an additional 81 shares during the period. Institutional investors own 93.30% of the company’s stock.

Tyler Technologies Price Performance

NYSE:TYL opened at $605.86 on Friday. The firm’s fifty day moving average is $584.88 and its two-hundred day moving average is $526.68. The firm has a market cap of $25.85 billion, a price-to-earnings ratio of 125.18, a PEG ratio of 5.42 and a beta of 0.78. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.06 and a current ratio of 1.06. Tyler Technologies, Inc. has a one year low of $361.16 and a one year high of $631.43.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.09. The business had revenue of $543.34 million during the quarter, compared to analysts’ expectations of $547.34 million. Tyler Technologies had a return on equity of 9.66% and a net margin of 10.24%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.66 EPS. Research analysts expect that Tyler Technologies, Inc. will post 7.21 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on TYL. Needham & Company LLC boosted their price target on Tyler Technologies from $600.00 to $700.00 and gave the stock a “buy” rating in a research report on Tuesday. StockNews.com upgraded shares of Tyler Technologies from a “hold” rating to a “buy” rating in a research note on Friday. BTIG Research increased their price objective on Tyler Technologies from $550.00 to $630.00 and gave the company a “buy” rating in a report on Friday, July 26th. Wells Fargo & Company boosted their target price on Tyler Technologies from $580.00 to $600.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Finally, Oppenheimer raised their price target on Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a report on Friday. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $642.62.

Insider Transactions at Tyler Technologies

In related news, Director Daniel M. Pope sold 275 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $578.26, for a total value of $159,021.50. Following the completion of the transaction, the director now directly owns 3,218 shares in the company, valued at $1,860,840.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO H Lynn Moore, Jr. sold 5,000 shares of Tyler Technologies stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $576.62, for a total value of $2,883,100.00. Following the completion of the transaction, the chief executive officer now owns 75,000 shares in the company, valued at $43,246,500. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel M. Pope sold 275 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $578.26, for a total value of $159,021.50. Following the completion of the transaction, the director now directly owns 3,218 shares of the company’s stock, valued at $1,860,840.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,375 shares of company stock valued at $17,049,739 in the last 90 days. 2.20% of the stock is currently owned by company insiders.

Tyler Technologies Profile

Tyler Technologies, Inc provides integrated information management solutions and services for the public sector. It operates in two segments, Enterprise Software and Platform Technologies. The company offers platform and transformative technology solutions, including cybersecurity for government agencies; data and insights solutions; digital solutions that helps workers and policymakers to share, communicate, and leverage data; payments solutions, such as billing, presentment, merchant onboarding, collections, reconciliation, and disbursements; platform technologies, an application development platform that enables government workers to build solutions and applications; and outdoor recreation solutions, including campsite reservations, activity registrations, licensing sales and renewals, and real-time data for conservation and park management.